Elena Nikulina

AI shares fall due to U.S. inflation and rising infrastructure costs, Puru Saxena notes

AI shares fall due to U.S. inflation and rising infrastructure costs, Puru Saxena notes
AI stocks fall on U.S. inflation, financing

AI stocks have sold off in recent days, with declines attributed to stronger-than-expected U.S. inflation—specifically a September CPI of 3.7% year over year—and rising concerns over the costs involved in building out AI infrastructure. Puru Saxena, investment commentator and ex-fund manager, identified these as key drivers of the recent downward move.

Earlier this month, Puru Saxena shared Michael Burry's comments on how a significant market drop could affect upcoming AI company IPOs such as OpenAI and Anthropic. In a separate commentary, Saxena noted that NDX and SPX remained in an uptrend, supported by falling bond yields and favorable seasonal trends. These observations highlight shifting sentiment around both AI equities and the broader market.

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